Zacks: Analysts Expect Lumentum Holdings Inc (NASDAQ:LITE) Will Announce Earnings of $1.30 Per Share

Wall Street brokerages expect Lumentum Holdings Inc (NASDAQ:LITE) to report $1.30 earnings per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Lumentum’s earnings, with estimates ranging from $1.25 to $1.35. Lumentum reported earnings per share of $1.15 during the same quarter last year, which would indicate a positive year over year growth rate of 13%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, February 4th.

According to Zacks, analysts expect that Lumentum will report full year earnings of $4.93 per share for the current financial year, with EPS estimates ranging from $4.62 to $5.20. For the next year, analysts anticipate that the business will report earnings of $5.72 per share, with EPS estimates ranging from $5.18 to $6.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Lumentum.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, October 31st. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.24. Lumentum had a negative net margin of 2.18% and a positive return on equity of 17.81%. The firm had revenue of $449.90 million during the quarter, compared to analysts’ expectations of $448.16 million. During the same quarter last year, the company posted $1.31 earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Craig Hallum lifted their price objective on shares of Lumentum from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. UBS Group cut shares of Lumentum from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $71.00 to $85.00 in a report on Thursday, January 9th. Zacks Investment Research raised shares of Lumentum from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Thursday, January 2nd. Morgan Stanley cut shares of Lumentum from an “overweight” rating to an “equal” rating and lifted their price objective for the company from $65.00 to $68.00 in a report on Monday, November 11th. Finally, Stifel Nicolaus set a $70.00 price objective on shares of Lumentum and gave the company a “buy” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. Lumentum has an average rating of “Buy” and an average price target of $79.71.

Shares of Lumentum stock traded down $0.55 during trading on Friday, hitting $78.46. 1,522,136 shares of the company’s stock were exchanged, compared to its average volume of 1,253,637. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.85 and a current ratio of 4.49. The business has a 50-day simple moving average of $77.74 and a 200-day simple moving average of $63.59. Lumentum has a 52-week low of $40.28 and a 52-week high of $84.49. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -124.54, a PEG ratio of 1.38 and a beta of 1.42.

In other news, CFO Wajid Ali sold 8,862 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $76.30, for a total transaction of $676,170.60. Following the completion of the sale, the chief financial officer now owns 151,197 shares of the company’s stock, valued at $11,536,331.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Judy G. Hamel sold 3,113 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $80.00, for a total transaction of $249,040.00. Following the sale, the senior vice president now directly owns 43,778 shares of the company’s stock, valued at approximately $3,502,240. The disclosure for this sale can be found here. Insiders have sold 157,970 shares of company stock valued at $10,399,043 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in shares of Lumentum by 2,178.5% during the second quarter. Nuveen Asset Management LLC now owns 1,372,183 shares of the technology company’s stock worth $73,289,000 after purchasing an additional 1,311,961 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Lumentum by 10.3% during the third quarter. Point72 Asset Management L.P. now owns 910,174 shares of the technology company’s stock worth $48,749,000 after acquiring an additional 84,774 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its position in Lumentum by 18.7% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 755,935 shares of the technology company’s stock worth $40,374,000 after acquiring an additional 119,255 shares during the last quarter. Victory Capital Management Inc. boosted its position in Lumentum by 771.4% during the second quarter. Victory Capital Management Inc. now owns 431,043 shares of the technology company’s stock worth $23,022,000 after acquiring an additional 381,575 shares during the last quarter. Finally, United Services Automobile Association boosted its position in Lumentum by 165.7% during the second quarter. United Services Automobile Association now owns 302,032 shares of the technology company’s stock worth $16,132,000 after acquiring an additional 188,354 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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